Post by
JimToronto on May 12, 2023 3:35pm
USDA
CHICAGO, May 12 (Reuters) - U.S. corn and soybean supplies were expected to rise sharply in the coming year due to forecasts for a record harvest for both crops, the government said on Friday, raising the potential for further price declines for both commodities.
https://www.reuters.com/article/usda-crops-supplies-idAFL1N37922R
"The report pegged 2023 corn acres at 92 million. This projection is up 4% from last year and above USDA’s February estimate of 91 million acres.
The report pegged 2023 wheat acres at 49.9 million, up 9% from 2022. It is also an increase from the estimate USDA released in February of 49.5 million acres.
The report pegged 2023 soybean acres at 87.5 million. This projection is up just slightly from last year and in line with the estimate USDA released in February. "
https://www.agriculture.com/news/business/usda-says-farmers-will-plant-more-corn-and-wheat-in-2023https://www.agriculture.com/news/business/usda-says-farmers-will-plant-more-corn-and-wheat-in-2023